Quote:
Originally Posted by Sylvanfan
The company I work for does a lot of Oil sands projects (pretty much all our work from last year)...and we just had our busiest month here in November trying to get projects that had started in the summer competed. In January we're going to have to cut our staff from like 22 to 6 because there is no new work being done. Everything has been put on hold. Right now it's scary how fast this thing came to an end. Even then....we will likley have to go after other types of work and thats going to be hard to find too. This is the third bad downturn I've seen in the economy in my working life, but this one is the worst instant downturn yet by far. I'm about the second last guy on the layoff list...but come February good chance I'll be on EI if something doesn't turn around here. It's great depression like bad right now.
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A lot of the companies hit pause.. We see plenty of shop space for fabrication opening up which means there will be opportunities for us to take advantage of some lower costs. Once the companies realize there are opportunities to save you'll see the capital start flowing again.